Key Takeaways:
Shein’s US ad spend around deals and savings increased 145% YoY in 2021, with a focus on 4Q21, as ad spend rose 175% QoQ, as the brand capitalized on holiday sales to drive demand
Shein pivoted to messaging around its vast library of styles and daily new items in 2022, with US ad spend associated with this messaging up 235% YoY
As of 2023 YTD, Shein has accounted for 11% of spend across the retail cohort, more than legacy retailer Target at 8%. However, Shein's share of spend across the cohort has already been surpassed by its newest competitor, Temu, whose US ad spend increased 13x YoY as it aggressively ramped up customer acquisition efforts
Shein averages a 21% share of ad spend across France, Germany, Italy, Spain, and the United Kingdom. Temu has emerged as its main competitor with an average 17% share of spend across the European retail cohort through 2023 YTD
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